Startup India

Startup India Schemes Launched by Government of India

Corporate Law - Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities....

Read More

SWAYATT & Start-up Runway : Doing business with Government

Corporate Law - In a vibrant economy like India, government constitutes one of the largest consumer. Public procurements are lucrative source of revenue for any business. However, because of complex eligibility norms and non-transparent selection process, often well-established and large business entities bag government contracts. In order to bring trans...

Read More

4 things to know before start off your business venture

Corporate Law - There are thousands of small businesses which starts off in India every day but unfortunately, most of them forcefully close up their operations in a few months/years. I have tried to list 4 common reasons ‘Why many of the small businesses have to shut down and how you can avoid them to be at a […]...

Read More

Angel Tax: A Guardian to the Startups Or Not?

Corporate Law - Gone are days when we use to strive to stand in the lines for the payment of the bills in the scorching heat. Nowadays, the payment of the bill is just one click away instead of few doors away. The world is developing and so are the people and their living standard. In the world […]...

Read More

Angel Tax and Start-Ups in India

Corporate Law - History of Angel Tax In India- The tax was introduced in the 2012 Union Budget by then finance minister Pranab Mukherjee to arrest and stop laundering of funds. It has come to be called angel tax since it largely impacts angel investors in start-ups....

Read More

CBDT enables Facility to view Form 2 Declaration filed with DPIIT

Corporate Law - Facility to view Form 2 Declaration filed with DPIIT by startup available in Income tax e-Filing portal CBDT has enabled Facility to view Form 2 Declaration filed with DPIIT (Department for Promotion of Industry and Internal Trade) by a startup on its e-filing portal. Form 2 (Section 56 Exemption declaration) is a Declaration by a [&helli...

Read More

CBDT denies charges of angel Tax Recovery from Travel Khana

Corporate Law - It has come to the notice of CBDT, through some media reports that Rs. 36 lakh have been recovered from a startup, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax. It has been alleged that this was in violation of the CBDT instructions dated 24th December, 2018 pertaining to recovery of dues in Angel...

Read More

Effect of Angel Tax on Indian Startup Ecosystem 

Corporate Law - The Government of India has continuously engaged with all stakeholders to address relevant issues related to the Indian Startup eco-system. The Department for Promotion of Industry and Internal Trade (DPIIT) issued notification in April 2018 for easing the norms for providing tax exemption to the Startup companies and further amended the ...

Read More

DIPP Clarification on IT Notice to Angel Investors/Start-ups

Corporate Law - The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in consultation with the Department of Revenue (DoR) has put in place a mechanism since April 2018 to grant exemption from the provisions of Section 56(2)(vi...

Read More

Sec. 79 Carry forward and set off of loss in case of eligible startups: Provide further relaxation

Corporate Law - The Finance Act, 2017 amended section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act...

Read More

TP- operating cost should be calculated by adjusting abnormal cost incurred on account of Start-up Company

HCL Technologies BPO Services Ltd Vs ACIT (ITAT Delhi) - In the case of HCL Technologies BPO Services Ltd vs. ACIT, ITAT has held that for transfer pricing only amount retained by associates from end user is to be taken into account for transfer pricing adjustment, and to adjust operating cost by excluding abnormal cost incurred on a/c of Startup Company ...

Read More

Exemption to startup companies from angel tax w.e.f. 19.02.2019

Notification No. 13/2019 - (05/03/2019) - CBDt has vide Notification No. 13/2019 granted exemption to startup companies from angel tax w.e.f. 19.02.2019 if such companies fulfill the conditions specified in para 4 of the notification number G.S.R. 127(E), dated the 19th February, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BO...

Read More

No Angel tax on issuance of shares up to Rs. 25 crore

Notification No. G.S.R. 127(E) - (19/02/2019) - A Start-ups will be eligible for exemption under Section 56 (2) (viib) of Income Tax Act, if it is a private limited company recognized by DPIIT and is not investing in any of the following assets: i. building or land appurtenant thereto, being a residential house, other than that used by the Start-...

Read More

CBDT amends notification on Angel Taxation

Notification No. 09/2019-Income Tax/ S.O. 584(E) - (31/01/2019) - Central Government hereby makes following amendment to the notification number S.O. 2088(E) dated the 24th May, 2018 published in the Gazette of India...

Read More

No Tax on issue of share capital by eligible start-ups at excess premium: CBDT

Notification No. 24/2018-Income Tax [S.O. 2088(E)] - (24/05/2018) - Central Government, hereby notifies that the provisions of clause (viib) of sub-section (2) of section 56 of the said Act shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the consideration has been received for issue of shares ...

Read More

Sec. 56(2)(viib) not applicable to startups having paid up share capital upto Rs. 10 crore

Notification No. G.S.R. 364(E) - (11/04/2018) - pproval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act -A Startup being a private limited company and in conformity with the definition as per definition stipulated at Para 1(a) shall be eligible to apply for approval for the purposes of clause (viib) of sub-section (2...

Read More

Recent Posts in "Startup India"

Startup India Schemes Launched by Government of India

Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities....

Read More
Posted Under: Income Tax |

SWAYATT & Start-up Runway : Doing business with Government

In a vibrant economy like India, government constitutes one of the largest consumer. Public procurements are lucrative source of revenue for any business. However, because of complex eligibility norms and non-transparent selection process, often well-established and large business entities bag government contracts. In order to bring trans...

Read More
Posted Under: Income Tax |

4 things to know before start off your business venture

There are thousands of small businesses which starts off in India every day but unfortunately, most of them forcefully close up their operations in a few months/years. I have tried to list 4 common reasons ‘Why many of the small businesses have to shut down and how you can avoid them to be at a […]...

Read More
Posted Under: Income Tax |

Angel Tax: A Guardian to the Startups Or Not?

Gone are days when we use to strive to stand in the lines for the payment of the bills in the scorching heat. Nowadays, the payment of the bill is just one click away instead of few doors away. The world is developing and so are the people and their living standard. In the world […]...

Read More
Posted Under: Income Tax |

Angel Tax and Start-Ups in India

History of Angel Tax In India- The tax was introduced in the 2012 Union Budget by then finance minister Pranab Mukherjee to arrest and stop laundering of funds. It has come to be called angel tax since it largely impacts angel investors in start-ups....

Read More
Posted Under: Income Tax |

Startup India Registration – Steps To Register Your Startup

What is a startup? A startup is a small business started with the objective to solve a problem. These are the companies which are generally operated by the founders or a single person. These companies are generally offering those services which the founders think are not available or are available in an inferior quality. Startups provide...

Read More
Posted Under: Income Tax |

CBDT enables Facility to view Form 2 Declaration filed with DPIIT

Facility to view Form 2 Declaration filed with DPIIT by startup available in Income tax e-Filing portal CBDT has enabled Facility to view Form 2 Declaration filed with DPIIT (Department for Promotion of Industry and Internal Trade) by a startup on its e-filing portal. Form 2 (Section 56 Exemption declaration) is a Declaration by a [&helli...

Read More
Posted Under: Income Tax |

10 most important changes made to tax & Regulatory framework for startups in 2018

10 most important changes made to tax & Regulatory framework for startups in 2018 According to Merriam and Webster, startups means to act of setting in operation or motion. In business terminology, the startups are the young companies which are incorporated by founders or individual to offer a product or service which is not available...

Read More
Posted Under: Income Tax |

Notification dated 5th March 2019 by CBDT on Angel Tax, Icing on cake

As per current Income Tax provisions, if a closely-held company i.e. a company in which public is not substantially interested, issues shares at a price which is more than its fair market value (FMV), then the excess amount i.e. excess of issue price over fair market value will be taxed as income from other sources in the hands of the com...

Read More
Posted Under: Income Tax |

Exemption to startup companies from angel tax w.e.f. 19.02.2019

Notification No. 13/2019 (05/03/2019)

CBDt has vide Notification No. 13/2019 granted exemption to startup companies from angel tax w.e.f. 19.02.2019 if such companies fulfill the conditions specified in para 4 of the notification number G.S.R. 127(E), dated the 19th February, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 13...

Read More

Browse All Categories

CA, CS, CMA (4,150)
Company Law (4,740)
Custom Duty (7,287)
DGFT (3,932)
Excise Duty (4,195)
Fema / RBI (3,697)
Finance (3,895)
Income Tax (29,934)
SEBI (3,136)
Service Tax (3,452)

Search Posts by Date

June 2019
M T W T F S S
« May    
 12
3456789
10111213141516
17181920212223
24252627282930